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A comprehensive introduction to and critical assessment of the theory and applications of the New Institutional Economics.
This second edition assesses some of the major refinements, extensions, and useful applications that have developed in neoinstitutionalist thought in recent years. More attention is given to the overlap between the New Institutional Economics and developments in economic history and political science. In addition to updated references, new material includes analysis of parallel developments in the field of economic sociology and its attacks on representatives of the NIE as well as an explanation of the institution-as-an-equilibrium-of-game approach. Already an international best seller, Institutions and Economic Theory is essential reading for economists and students attracted to the NIE app...
First multi-year cumulation covers six years: 1965-70.
This invaluable collection of essays brings together important papers by authors working in the tradition of the new institutional economics.
The essays in this collection argue that ? contrary to some private-sector populists ? the state is in the best position to lead in making policy in a rapidly changing world and should retain and refine this responsibility.
Everything we hold sacred—morality, ethics, self-respect, truth, fairness, justice, equality, progress and dignity—stands violated in the presence of widespread poverty and deprivation. Why is it that our brilliant inventors, brightest entrepreneurs, cleverest businessmen, and most savvy political leaders, who can successfully build inexpensive rockets to take us to space and construct lengthy bridges across dangerous rivers, cannot eliminate poverty in their neighborhoods? Unless, of course, poverty is an acceptable byproduct of our economic progress. But this book is not about poverty. It is about dignity. It is about the deceptively simple idea that a basic income that enables payment...
The essays in this volume have been translated from the German to bring to the notice of a wider public the contemporary views of a group of prominent German economists and lawyers who have all participated in the development of post-war economic policy in the Federal Republic of Germany.